Alexey Teksler is re-elected Chairman of Bashneft Board of Directors

UFA, 27 July 2016. /Bashinform News Agency,Olesya Seregina/. The Board of Directors of PJSOC Bashneft has elected again Alexey Teksler, the First Deputy Minister of Energy, as the Chairman of the Board of Directors. The decision was made in accordance with a directive from the Government of the Russian Federation, the company reports.

Alexey Teksler holds the post of the First Deputy Minister of Energy of the Russian Federation since November 2014. Previously, he held executive positions in the subsidiaries of MMC Norilsk Nickel.

PJSOC Bashneft is a vertically integrated oil company operating in more than 20 regions of Russia and abroad. At the end of 2015 it ranked sixth among Russian oil companies for oil extraction (19.9 million tonnes) and the fourth - for primary processing (19.1 million tons). As of January 1, 2016 proved oil reserves amounted to 2.32 billion barrels. The company is provided with proven oil reserves for 16.3 years.

The controlling shareholder of Bashneft is the Russian Federation represented by the Federal Property Management Agency (50.08 percent of the authorized capital). The Republic of Bashkortostan owns a blocking stake (25 percent plus one share).